Project NUC Launches The World's First Cryptocurrency with an Irrevocable Trust Structure on the Blockchain: New Unit of Coin

MIAMI, Dec. 7, 2020 /PRNewswire/ -- The NUC Development Foundation is a Trust entity with an irrevocable trust structure settled to hold an extremely rare uncut ruby gemstone currently appraised at $783,000,000.00 USD by the Gemological Institute of America. Project NUC has been tasked with trusteeship to develop a decentralized crypto token called "New Unit of Coin" (NUC) capable of being redeemable on the "NUC Exchange" (launching Q2, 2021) for "Certificates of Beneficial Interest," representing unit shares in the ruby's carat market value and tradable on the blockchain. Each Certificate will be unique based on the value of the NUC tokens redeemed at the time for the ruby's carat value in the marketplace. NUC's are divisible, non-fungible, transferable, decentralized and scarce.

This Trust structure affords the NUC to have the decentralized utility of a great store of value in both the digital and real-world economies. Individuals can purchase the NUC tokens (digital) to gain access to beneficiary Certificates to the NUC Development Foundation Trust (reality). When tokens are redeemed on the NUC exchange, individuals will have to go through KYC procedures to get beneficiary status. Beneficiaries will receive a cryptographic digital Certificate via email which they will have the ability to download and print for real-world use cases. A few Real-world benefits include Estate planning around asset inheritance tax by passing NUC Certificates to heirs or assigns forever, as well as avoid costly probate fees. Beneficiaries can use the Certificates to add to portfolio Net Worth as well as a hedge against inflation. For some Certificate holders Medicare planning maybe a benefit due to beneficiary status of an irrevocable Trust, and lastly the benefits of tax deductions based on the Trust distributing K1 tax return forms via email at the end of the Trust calendar year to Certificate holders. Details will be provided to the beneficiaries expressing what was considered principal vs. income outside of the Ruby's yearly GIA appraisal value. As the NUC token market cap increases, the GIA appraisal value should increase allowing the Trust to have a higher principal value for future K1 tax deductions purposes.

In a mere 5 months during the COVID-19 pandemic this fast growing venture has received "Known Asset" status on Stellarport and is actively trading on the LOBSTR app with a market cap currently above $1.32 Billion. The NUC token is pegged via smart contract to the Trust holding the ruby deposited in a secured vault by a third party depository in the USA. "We would like to dedicate this massive project to improving the quality of life of all people seeking to secure their wealth."- NUC founders. The NUC token will be on major exchanges such as coinbase, binance etc within the next 90 days, as their soft launch just started Nov, 30, 2020 with more plans on the roadmap located on their website nu-coin.org.

CONTACT: Geysi El, [email protected]
Kraig Knight, [email protected]

SOURCE Project NUC

Related Links

https://www.nu-coin.org/